The document discusses several topics related to corporations including their history, evolution of power, concept of corporate personhood, corporate social responsibility, branding, and how corporations use branding to develop attractive personalities. It provides definitions of corporation and discusses advantages like limited liability as well as disadvantages such as regulatory requirements. Key developments that led to the rise of corporations in Europe and America are summarized.

1. CHAPTER 1 DISCUSSION QUESTIONS 1) How did the corporation become so powerful (history & evolution)? 2) How is a corporation a "person?" 3) What is corporate "social responsibility?" 4) What is the history of corporate social responsibility? 5) What is "new capitalism" & what is its effect on corporate social responsibility? 6) How/Why do corporations use New Capitalism & corporate social responsibility to soften their image? 7) On page 26 the author states that corporations use "branding" to create unique & attractive personalities for themselves. What is "branding?" To answer this effectively, you will need to research this further than just the short blurb in the book. 8) On page 26 the author quotes Clay Timon, CEO of Landor Associates the world's largest & oldest branding firm, as saying, "Corporations, as brands have souls." What does he mean? 9) In your opinion, what company does an effective job at creating a unique & attractive personality through branding? What is the personality that they portray? How do they do it?

2. WHAT COMES TO MIND WHEN YOU HEAR/READ THE WORD “CORPORATION” CORPORATION VS BUSINESS

3. DEFINITION & HISTORY CORPORATION: -“CORPUS”: LATIN “BODY OF PEOPLE.” -A GROUP OF INDIVIDUALS WORKING TOGETHER TO SERVE A VARIETY OF OBJECTIVES. -THE MAIN OBJECTIVE IS TO EARN LARGE, GROWING, SUSTAINED, LEGAL RETURNS ($$$) FOR THE PEOPLE WHO OWN THE BUSINESS. FORMS: -BUSINESS -GOVERNMENT -POLITICAL -RELIGIOUS -CHARITABLE (NON-PROFIT)

4. ADVANTAGES/DISADVANTAGES ADVANTAGES: 1) LIMITED LIABILITY OF STOCKHOLDERS 2) ABILITY TO CONTINUE INDEFINITELY (PERPETUAL LIFETIME) DISADVANTAGES: 1) COST & TIME TO ESTABLISH & MAINTAIN 2) LEGAL REQUIREMENTS & REGULATORY RED TAPE

5. THE RISE OF THE CORPORATION IN EUROPE EARLY ON, THE CORPORATION WAS ENGULFED IN CORRUPTION & FRAUD. JOBBERS STOCKBROKERS WHO PROWLED LONDON’S COFFEE SHOPS IN SEARCH OF INVESTORS TO SELL SHARES IN BOGUS COMPANIES. SOUTH SEA COMPANY: CORPORATION FORMED TO CARRY ON EXCLUSIVE TRADE (MONOLOPY) WITH SPANISH COLONIES OF SOUTH AMERICA. IN EXCHANGE, IT ASSUMED THE NATIONAL DEBT ENGLAND INCURRED DURING THE WAR OF SPANISH SUCCESSION. SOUTH SEA BUBBLE: TO WIN OVER POLITICIANS, THE COMPANY GAVE STOCKS IN THEIR BUSINESS. THE POLITICIANS THEN SOLD THEM BACK TO THE COMPANY FOR PROFIT. BUBBLE ACT: CRIMINAL OFFENSE TO CREATE A COMPANY PRESUMING TO BE A CORPORATE BODY & TO ISSUE TRANSFERABLE STOCKS WITHOUT LEGAL AUTHORITY. 1720: ENGLISH PARLIAMENT OUTLAWED THE CORPORATION.

6. THE RISE OF THE CORPORATION IN AMERICA GREW OUT OF THE INDUSTRIAL AGE (LATE 1700’S, EARLY 1800’S) -INDUSTRIALIZATION IN AMERICA INVOLVED 3 IMPORTANT DEVELOPMENTS: 1) TRANSPORTATION 2) ELECTRICITY 3) TECHNOLOGY

7. IMPORTANT INVENTIONS/CREATIONS COTTON GIN: 1793

8. IMPORTANT INVENTIONS/CREATIONS CLERMONT (1807)

9. IMPORTANT INVENTIONS/CREATIONS CUMBERLAND ROAD: CUMBERLAND, MD – VANDALIA, IL (1811-1839)

10. IMPORTANT INVENTIONS/CREATIONS TELEGRAPH (1860)

11. IMPORTANT INVENTIONS/CREATIONS TRANSCONTINENTAL RAILROAD (1869)

12. PARADIGM CHANGE: AGRARIAN TO MANUFACTURING -AS INDUSTRIES & FACTORIES AROSE, PEOPLE MOVED FROM FARM TOWNS TO CITIES. -BY 1900 3 AMERICAN CITIES HAD A POPULATION OVER 1 MILLION: NEW YORK: 3.5 MILLION CHICAGO: 1.7 MILLION PHILADELPHIA: 1.3 MILLION

13. REVOLUTIONARY TRANSFORMATION NJ & Delaware sought to attract corporations to their jurisdictions by getting rid of unpopular restrictions. DEREGULATION: -THE REMOVAL OR REDUCTION OF GOVERNMENT CONTROL ON HOW BUSINESS IS DONE.

14. 14 TH AMENDMENT PASSED AT END OF CIVIL WAR TO GIVE EQUAL RIGHTS TO AFRICAN-AMERICANS. “ NO STATE CAN DEPRIVE A PERSON OF LIFE, LIBERTY, OR PROPERTY WITHOUT DUE PROCESS.” CORPORATIONS ARGUED THAT THEY ARE A “PERSON” & THE SUPREME COURT AGREED.

15. THE CORPORATION AS A “PERSON” The law typically views a corporation as a fictional person, a legal person, or a moral person. Under such a doctrine, a corporation enjoys many of the rights and obligations of individual persons such as: -The ability to own property -The ability to sign binding contracts -The ability to pay taxes -The ability to have certain constitutional rights -The ability to participate in society Corporations often have rights not granted to individuals: -Treaty rights

16. CORPORATIONS HAVE DEVELOPED WAYS TO SOFTEN THEIR IMAGE WITH THE PUBLIC OTHER THAN THROUGH THE LEGAL SYSTEM

17. CORPORATE SOCIAL RESPONSIBILITY (CSR) Corporate Social Responsibility (CSR): -The deliberate inclusion of public interest into corporate decision-making. -CSR honors the 3 P’s: -People, Planet, Profit -Shareholders vs Stakeholders Shareholder: -An individual, group, or organization that legally owns shares of stock in a company. *Has a financial stake in the company. Stakeholder: -A person, group, or organization that affects or can be affected by an organization's actions. *Has an interest in the company.

18. FOR CLASS PURPOSES: EMPLOYEES CUSTOMERS SOCIETY: COMMUNITY/ENVIRONMENT

19. CSR -AS CORPORATIONS SIZE & POWER GREW, SO DID PEOPLE’S FEARS OF THEM. -EARLY 1900’S: AMERICANS VIEWED CORPORATIONS AS THREATENING TO THEIR SOCIAL INSTITUTIONS & GOVERNMENTS. -“FRANKENSTEIN MONSTERS” -ENTER “NEW CAPITALISM”

20. CAPITALISM BEFORE WE DISCUSS “NEW” CAPITALISM WE MUST FIRST UNDERSTAND REGULAR CAPITALISM -AN ECONOMIC SYSTEM BASED ON FREE ENTERPRISE . 1) LITTLE GOVERNMENT INTERVENTION (DEREGULATION). 2) OPEN COMPETITION (FREE MARKET)

21. NEW CAPITALISM -THE TREND OF SOFTENING A CORPORATION’S IMAGE WITH PROMISES OF GOOD CORPORATE CITIZENSHIP & PRACTICES OF BETTER WAGES & WORKING CONDITIONS WITHOUT THE PUSH OF GOVERNMENTS & UNIONS. -CORPORATIONS NEED TO TAKE CARE OF THEIR EMPLOYEES. -BELIEVED CAPITALISM WOULD NOT SURVIVE UNLESS EQUALITY & COOPERATION EXISTED BETWEEN WORKERS & CAPITALISTS.

22. SUSTAINABLE DEVELOPMENT -ARGUES THAT CORPORATIONS SHOULD MAKE DECISIONS BASED NOT ONLY ON SHORT-TERM FINANCIAL FACTORS SUCH AS PROFITS OR DIVIDENDS, BUT ALSO BASED ON THE LONG-TERM SOCIAL & ENVIRONMENTAL CONSEQUENCES OF THEIR ACTIVITIES. -CORPORATIONS NEED TO TAKE CARE OF THE ENVIRONMENT.

23. BRANDING -SIMILAR TO BRANDING ON THE RANCH. -USED TO DIFFERENTIATE YOUR COMPANY (COW) FROM ALL OTHER COMPANIES (CATTLE). -USED BY CORPORATIONS TO CREATE UNIQUE & ATTRACTIVE PERSONALITIES FOR THEMSLEVES. -CORPORATIONS’ BRAND IDENTITIES ARE PERSONIFICATIONS OF WHO THEY ARE & WHERE THEY’VE COME FROM. -ENABLES THEM TO CREATE INTELLECTUAL & EMOTIONAL BONDS WITH THE GROUPS THAT THEY DEPEND ON: -CONSUMERS & EMPLOYEES

24. BRAND DRIVERS -SLOGANS, LOGOS, SYMBOLS, MACOTS, CELEBRITY ENDORSEMENTS, ETC. TO REINFORCE “HUMAN QUALITIES”

25. CAN/SHOULD A SUCCESSFUL BRAND APPEAL TO EVERYBODY? -SHOULD A ROLEX WATCH COST $50? -WHAT WOULD HAPPEN TO SALES SHORT-TERM? -WHAT WOULD HAPPEN TO THE BRAND LONG-TERM? -NO. CREATE THE PERCEPTION THAT THERE IS NO OTHER COMPANY/PRODUCT ON THE MARKET LIKE YOURS.

26. “ CORPORATIONS, AS BRANDS, HAVE SOULS.” BRANDING = PERSONALITY “ FRIEND & NEIGHBIOR” “ FAMILY” -CORPORATION: COLD, IMPERSONAL, & SUBJECT TO MISUNDERSTANDING & DISTRUST. -FAMILY: PERSONAL, HUMAN, FRIENDLY.